Rocket Pharmaceuticals (NASDAQ:RCKT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a hold rating to a sell rating in a research note released on Sunday.

Several other research firms have also issued reports on RCKT. Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.71.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $3.61 on Friday. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. Rocket Pharmaceuticals has a 1 year low of $2.53 and a 1 year high of $5.45. The company has a market cap of $394.18 million, a PE ratio of -1.93 and a beta of 0.47. The stock’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $3.61.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the previous year, the business posted ($0.56) EPS. On average, analysts predict that Rocket Pharmaceuticals will post -1.16 EPS for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $3.09, for a total value of $172,063.56. Following the sale, the chief executive officer owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 66,083 shares of company stock valued at $207,531 over the last three months. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Maverick Capital Ltd. increased its holdings in Rocket Pharmaceuticals by 42.0% in the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after buying an additional 1,054,262 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Rocket Pharmaceuticals by 8.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 6,900 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Rocket Pharmaceuticals by 68.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock valued at $73,000 after acquiring an additional 8,298 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Rocket Pharmaceuticals in the first quarter valued at about $50,000. Finally, Assenagon Asset Management S.A. raised its position in Rocket Pharmaceuticals by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 99,026 shares of the biotechnology company’s stock worth $355,000 after purchasing an additional 66,511 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.